GRAND JUNCTION, Colo., Sept. 7 (UPI) -- Democratic fundraiser and contributor Norman Hsu was arrested Thursday in Colorado after once again becoming a fugitive on a fraud charge.
Hsu had been scheduled to surrender his passport Wednesday in Redwood City, Calif., but failed to show up. He was arrested at a hospital in Grand Junction, Colo., by state and federal law enforcement agents, The San Francisco Chronicle reported.
He pleaded guilty in 1992 to fraud in what prosecutors said was a classic Ponzi scheme -- using money from investors to pay off previous investors without actually having a business. Facing a three-year prison term, he skipped bail.
Hsu in recent years had become one of the Democratic Party’s largest contributors and raised thousands more from other donors. When his status as a fugitive became public, candidates said they would give his contributions to charity.
Pennsylvania Gov. Ed Rendell joined that group Thursday.
"Though Norman is my friend, and remains so, his failure to appear casts a new light on his assertions regarding the original case," Rendell said.
